New deal: Leclerc negotiates a huge salary. Scuderia Ferrari has reportedly agreed a contract extension with Charles Leclerc that will keep the Monegasque in the team. This deal will more than likely see team mate Carlos Sainz Jr exit the team as Ferrari pin their long term hopes to Leclerc over the Spaniard.
Sainz, who made a promising debut with Ferrari last year, saw his aspirations for additional podiums and victories curtailed by the dominant Red Bull team, which had clinched every win in the season up to that point.
Locked into a contract with Ferrari until the conclusion of the 2024 season, Sainz is resolute in his commitment to aid the team’s resurgence and enhance their performance. His ultimate aspiration remains capturing the title of world champion, with more race victories and podium finishes squarely in his sights.
Sainz plans to jump ship?
“One day, I aspire to be a world champion,” he affirmed after the last Grand Prix in Belgium. “My goal is to secure more wins. I’m here to compete at the highest level and leave a mark on this sport.”
One must question whether this ambition is with Ferrari, or elsewhere.
“I’m not going to lie, I don’t like going into my last year of a contract without really knowing where I’m racing the next year,” Sainz admitted during the Hungarian Grand Prix this year.
“I went through that process both with Red Bull and Renault, and I know it’s not ideal as an athlete, and as a driver. It’s just not the right thing. And that’s why I have put this winter as a reference to try and figure out my future,”
Audi deal for Sainz
Ex F1 driver Ralph Schumacher who is well connected within the F1 paddock believes Carlos relaxed attitude is because he knowns he will leave be leaving Ferrari.
“You get the feeling he has lost confidence in the team,” Schumacher remarked to Sky Germany.
“I hear rumours that his father is in the paddock looking for an alternative.
“Ferrari is facing quite a disaster at the moment.”
Carlos Sainz Snr is still closely connected to the VW Group from his rally world championship winning days, which could see his son recruited by their Audi brand soon to join Formula One.
“Audi will need a driver with Formula 1 experience by 2026,” Schumacher concludes.
Leclerc contract extension with Ferrari
The reported Leclerc deal includes an option that could extend his stay until 2029, according to sources close to the negotiations reports the French publication Sportune.
The move comes after months of speculation surrounding Leclerc’s future in F1, with rumours of possible talks with Mercedes, Aston Martin, Alpine and even Red Bull.
The new contract structure is believed to consist of a firm deal for the 2025 and 2026 seasons, followed by optional extensions for 2027, 2028 and 2029. This agreement demonstrates Ferrari’s commitment to securing the services of the talented driver for the foreseeable future. This apparent focus on the Monagasque as their potential champion, in a similar manner to the previous deal that forced his then team mate Sebastian Vettel out of the team, will no doubt be the last straw for Sainz next year who has admitted he will secure a deal ahead of leaving Ferrari at the end of 2024.
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Huge salary agreements
Leclerc’s existing contract was due to expire in 2024, but Ferrari have shown a keen interest in retaining him. In particular, earlier this year former Ferrari team principal Mattia Binotto decided to accelerate Leclerc’s earnings before his departure by paying him his 2024 salary of €20 million in 2023.
This gesture was seen as an acknowledgement of Leclerc’s importance to the team and the start of negotiations for a more comprehensive deal.
The negotiations have been carefully orchestrated by Ferrari, with an emphasis on timing and priorities. Team Principal Fred Vasseur held talks with both Leclerc and his team-mate Carlos Sainz towards the end of June. Leclerc’s focus on the 2023 season and the team’s pursuit of a higher position in the Constructors’ Championship aligned well with Ferrari’s strategies.
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Rumour: €50 million for Leclerc in the final year
The reported 5-year extension, potentially worth over €185 million ($220 million), signifies Ferrari’s determination to maintain Leclerc’s role as their front man. The structure of the deal also underlines the team’s commitment to a long-term relationship, with performance-related clauses built into the option years. While exact details are yet to be confirmed, it’s speculated that Leclerc’s remuneration could reach €50 million in the final year of the deal.
F1 struggle to sell Vegas tickets
Posting the same video of Toto Wolff saying 'No Michael, no no Michael that was so not right' every day until @MercedesAMGF1 retweet it. #F1 #BelgianGP pic.twitter.com/FuBNgy3K1R
— TotoWolffBot (@TotoWolffCrying) July 27, 2023
MORE F1 NEWS: Wolff gives up…
Toto Wolffs latest Horner taunt is rather lame by his standards, indeed some might say he’s ‘given up’ an decades old rivalry between himself and Christian Horner of Red Bull. Critics of Toto Wolff would argue he breezed into Formula One taking advantage of others’ work just in time for Mercedes AMG F1 to receive the dominant power unit of the new hybrid era. This together with the recruitment of Lewis Hamilton saw the team dominate Formula One for the best part of a decade.
Yet the story is more intricate than this and before we examine Toto Wolff’s latest taunt at Christian Horner it’s worth understanding the back story to their fraught and at times outright vicious….. READ MORE ON THIS STORY
Wow a lot of money for someone making a lot of mistakes.